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Sounds like your oil pump is "getting tired". If you plan on keeping it for any length of time, you're probably going to have to replace oil pump. To replace you'll need to drain oil, drop oil pan and you'll find oil pump and pick up tube and strainer bolted to lower part of engine. Unbolt, slide out holding oil pump shaft in engine, slide new pump/strainer and pickup in place, bolt in place, reinstall pan and refill with oil.
Raise the truck using the proper equipment. Use a ramp or a jack and jack stands to support the vehicle securely by following all directions for use provided by this equipment's manufacturer.
Drain all oil from the Silverado by placing an oil drip pan under the vehicle's engine block, directly under the oil drain plug. The drain plug is located on the oil pan, between the vehicle's tires underneath the vehicle. Use a wrench to loosen and remove the plug allowing the oil to drain into the pain below.
Notice the various items attached to the oil pan or in the way of the oil pan dropping. For the oil pan to drop, remove the negative battery cable, front differential (only for four-wheel drive vehicles) and the under body shield by using a wrench or socket set.
Remove the oil pan shield by loosening the four bolts holding it in place along the edges of the shield. Then, remove the cross brace, oil filter, the transmission to oil pan bolts and the oil level sensor.
Follow the removal of those pieces by removing the bolts from the two front wiring harness, the engine wiring harness retainer, engine oil cooler pipe to oil bolts and the transmission oil cooler pipe retainer using a wrench. Located the closeout covers and bolts located on each side of the engine and remove them.
Disconnect each of the oil pan bolts using a wrench that will allow the oil pan to drop. The oil pan gasket will also fall off and replacement should occur before reinstalling the oil pan.
Section 03-01: Engine, 4.6L (4V)
1997 Continental Workshop Manual
Oil Pan/Oil Pump Screen Cover and Tube
Turn rear suspension leveler compressor switch (5K761) off (located in luggage compartment).
Disconnect battery ground cable (14301). Refer to Section 14-01 .
Remove oil level dipstick (6750).
Raise vehicle on hoist.
Remove dual converter Y pipe (5F250). Refer to Section 09-00 .
Drain engine oil from crankcase.
Disconnect engine control sensor wiring (12A581) from the low oil level sensor connector.
Remove the power steering pressure hose retainer brackets from the engine front cover studs (two places). Position the power steering pressure hose (3A719) out of the way.
Remove 16 bolts retaining oil pan (6675) to cylinder blocks (6010) and remove oil pan and oil pan gasket (6710).
Remove two bolts retaining oil pump screen cover and tube (6622) to oil pump (6600).
Remove bolt retaining oil pump screen and cover and tube support brace to main bearing stud spacer.
Remove oil pump screen cover and tube. Discard O-ring.
Bolt (16 Req'd)
Oil Pump Screen Cover and Tube
Oil Pan Gasket
Tighten to 20 Nm (14 Lb-Ft), then rotate 60 degrees clockwise Installation
Inspect oil pump screen cover and tube and replace if necessary.
Position oil pump screen cover and tube on oil pump with a new O-ring and hand-start two bolts.
Install bolt retaining oil pump screen cover and tube to main bearing stud spacer finger-tight.
Tighten oil pump screen cover and tube-to-oil pump bolts to 8-12 Nm (71-106 lb-in). Tighten oil pump screen cover and tube to main bearing stud spacer bolt to 20-30 Nm (15-22 lb-ft).
Clean oil pan and inspect for damage.
Clean sealing surfaces of engine front cover (6019) and cylinder blocks with a clean cloth. If scraping is required, only use plastic-tipped scrapers to prevent damaging the aluminum sealing surfaces.
Position new oil pan gasket on oil pan.
Apply Silicone Gasket and Sealant F6AZ-19562-AA or equivalent meeting Ford specification WSE-M4G323-A6 where engine front cover meets cylinder blocks and crankshaft rear oil seal retainer meets cylinder blocks. Position oil pan on cylinder blocks and install 16 bolts. Tighten bolts in sequence to 20 Nm (14 lb-ft), then rotate an additional 60 degrees clockwise.